26 March 2021, Singapore – The Philippine Embassy in Singapore and the Philippine Chamber of Commerce and Industry (PCCI) successfully hosted via Zoom on 26 March the 2nd Philippines-Singapore Business and Investment Summit (PSBIS), a government-to-business forum aimed to promote investment and doing business in the Philippines.
This year’s investment summit brought together a high-powered team of Philippine economic managers composed of Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno, Secretary of Finance Carlos G. Dominguez III, and Secretary of Trade and Industry Ramon M. Lopez, who updated the audience on the current economic climate in the Philippines, as well as the economic stimulus measures being implemented by the Philippine Government in order to fast track recovery of the Philippine economy from the pandemic. The resource speakers emphasized that the Philippines remains an ideal business destination for business and investment due to its strong and resilient macroeconomic fundamentals despite the adverse conditions brought by the pandemic. They also provided valuable insights on investment opportunities as well as government incentive programs as the country looks forward to economic recovery.
The speakers’ presentations were followed by an open forum where questions from the audience were addressed by a panel composed of Governor Diokno, Finance Undersecretary and Chief Economist Gil S. Beltran and Trade and Investment Undersecretary for Competitiveness and Innovation Rafaelita M. Aldaba.
Ambassador Joseph del Mar Yap, Philippine Ambassador to Singapore, Ambassador Benedicto V. Yujuico, PCCI President, and Ambassador Francis C. Chua, PCCI Chairman Emeritus, delivered the welcome, opening and keynote remarks during the Summit, respectively.
The investment forum was attended by almost 400 participants, including Singapore-based business leaders representing enterprises, manufacturing companies, multinational corporations, business organizations, MSMEs, chambers of commerce and members of the diplomatic corps. The event was supported by the Singapore Business Federation, the Singapore Manufacturing Federation and the Singapore Chinese Chamber of Commerce and Industry.
The inaugural forum of the PSBIS was held in October 2019 at the Shangri-la Hotel, Singapore. It was attended by five Cabinet-level Philippine officials namely, BSP Governor Benjamin T. Diokno, Transportation Secretary Arthur P. Tugade, Public Works and Highways Secretary Mark A. Villar, former Socioeconomic Planning Secretary Ernesto M. Pernia, and Bases Conversion and Development Authority (BCDA) President Vivencio B. Dizon. The 2nd investment summit was conducted virtually in light of the prevailing COVID-19 situation. END